{
  "crd_number": 282350,
  "slug": "as-avaron-asset-management-tallinn-282350",
  "primary_business_name": "AS AVARON ASSET MANAGEMENT",
  "legal_name": "AS AVARON ASSET MANAGEMENT",
  "dbas": [],
  "city": "Tallinn",
  "state": null,
  "country": "Estonia",
  "cbsa_code": null,
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2016-01-20",
  "years_registered": 10,
  "period": "2026-10-01",
  "filing_date": "2026-02-03",
  "carried_forward": false,
  "raum_total": 401854297.0,
  "raum_discretionary": 401854297.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 17,
  "advisory_employees": 11,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 401854297.0,
      "count": 4,
      "description": "NON-US REGULATED INV.CO-S, POOLED INV. VEHICLES, PENSION PLANS"
    },
    "charitable": {
      "raum": null,
      "count": 0
    },
    "individuals": {
      "raum": null,
      "count": 0
    },
    "banking_thrift": {
      "raum": null,
      "count": 0
    },
    "state_municipal": {
      "raum": null,
      "count": 0
    },
    "insurance_companies": {
      "raum": null,
      "count": 0
    },
    "investment_companies": {
      "raum": null,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": null,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": null,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": null,
      "count": 0
    },
    "pooled_investment_vehicles": {
      "raum": null,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": null,
      "count": 0
    },
    "business_development_companies": {
      "raum": null,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": null,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "other",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [],
  "websites": [
    "https://avaron.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/282350",
  "city_as_filed": "TALLINN",
  "url": "https://advisorcensus.com/firm/as-avaron-asset-management-tallinn-282350",
  "display_name": "As Avaron Asset Management",
  "summary": "As Avaron Asset Management is an SEC-registered investment advisory firm in Tallinn, Estonia, registered since 2016, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated February 3, 2026.",
  "citation": "AdvisorCensus. As Avaron Asset Management (CRD 282350): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is As Avaron Asset Management compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), As Avaron Asset Management reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is As Avaron Asset Management located?",
      "a": "As Avaron Asset Management's principal office is in Tallinn, Estonia, according to its Form ADV."
    },
    {
      "q": "Is As Avaron Asset Management registered with the SEC or a state?",
      "a": "As Avaron Asset Management is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 282350."
    },
    {
      "q": "How much does As Avaron Asset Management manage?",
      "a": "As Avaron Asset Management reports $401,854,297 in regulatory assets under management in its Form ADV filing dated February 3, 2026 (100% discretionary)."
    },
    {
      "q": "How have As Avaron Asset Management's assets and staff changed since 2021?",
      "a": "In the Form ADV data for As Avaron Asset Management: Regulatory assets under management: $371,841,620 in the October 2021 data and $401,854,297 in the October 2026 data, up 8%. Total employees: 19 in October 2021 and 17 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does As Avaron Asset Management serve?",
      "a": "By number of clients on Form ADV Item 5.D: other (4)."
    },
    {
      "q": "Which custodians does As Avaron Asset Management use?",
      "a": "As Avaron Asset Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Caceis, Citibank Europe PLC, Luxembourg Branch and Swedbank As as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does As Avaron Asset Management report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/282350"
    },
    {
      "q": "What changed in As Avaron Asset Management's recent Form ADV filings?",
      "a": "In the March 2026 filing data: Regulatory assets under management went from $219,989,237 to $401,854,297 (+83%). Employees performing advisory functions went from 9 to 11. Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 371841620.0,
      "total_employees": 19,
      "filing_date": "2021-03-19"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 400878439.0,
      "total_employees": 21,
      "filing_date": "2022-08-22"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 154582113.0,
      "total_employees": 17,
      "filing_date": "2023-03-13"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 268959636.0,
      "total_employees": 15,
      "filing_date": "2024-03-06"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 219989237.0,
      "total_employees": 16,
      "filing_date": "2025-02-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 401854297.0,
      "total_employees": 17,
      "filing_date": "2026-02-03"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-03-01",
      "period_label": "March 2026",
      "notes": [
        "Regulatory assets under management went from $219,989,237 to $401,854,297 (+83%).",
        "Employees performing advisory functions went from 9 to 11.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Caceis",
      "name_as_filed": "CACEIS",
      "affiliated": false
    },
    {
      "name": "Citibank Europe PLC, Luxembourg Branch",
      "name_as_filed": "CITIBANK EUROPE PLC, LUXEMBOURG BRANCH",
      "affiliated": false
    },
    {
      "name": "Swedbank As",
      "name_as_filed": "SWEDBANK AS",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/as-avaron-asset-management-tallinn-282350.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "other",
      "label": "Other",
      "count": 4,
      "fewer_than_5": false,
      "raum": 401854297.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/282350",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}